Sun TV Network Share Price: Hold Sun TV Network, Target Price Rs 470: Emkay Global

Emkay Global has retained a call on Sun TV Network with a target price of Rs 470. The current market price of . is Rs 430.35. The period given by the analyst is one year when the price Ltd. can achieve the set goal.

Sun TV Network Ltd., incorporated in 1985, is a mid-cap company (having a market capitalization of Rs 16953.52 Crore) operating in the media and entertainment sector.

Major products/revenue segments of Sun TV Network Ltd. includes subscription revenue, advertising revenue, other services, content commerce revenue, and film production and distribution revenue for the year ending March 31, 2021.

finance

For the quarter ended 31-03-2022, the company reported a consolidated total revenue of Rs 912.80 Crore, down -17.44% from last quarter. Total revenue of Rs 1105.68 Crore and up by 3.78% compared to the same quarter last year. Total revenue of Rs 879.52 Crore. . The company reported a net profit after tax of Rs 405.53 Crore last quarter.

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Rational investment
Sun TV’s standalone ad revenue is expected to grow 36% year-on-year on a favorable basis (a slower recovery was seen in Q1FY22) as it managed to maintain market share in its core market. Subscription revenue is expected to continue to experience moderate growth due to uncertainties surrounding the implementation of NTO 2.0. It is also building Rs 2.5 billion in IPL revenue in the first quarter of FY23. Revenue is also expected to be boosted by the release of the movie ‘Beast’ which garnered strong box office receipts. EBITDA margin is expected to decline by 205 basis points year-on-year to 59% due to higher cost of revenues and increased contribution from IPL.

Promoter/Fii Holdings
The promoters held 75.0% of the company’s capital as of March 31, 2022, while the FIIs held 10.31% and the DIIs 3.09%.

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